Ferrari, week 5: 2 of 3 targets already hit
Ferrari slips 0.6% and stalls below its highs, but the buy signal holds
Ferrari, week 5: 2 of 3 targets already hit
Our view last week
Ferrari closed the week essentially flat, squeezed into a very tight band between the daily pivot average, in the 331 area, and the 50-week average just below, in the 329 area: tension is building toward its recent highs. Ferrari stock is in week 4 of an open buy signal, already up 7.9% with the first of the model's three price targets hit. This week's technical analysis flags two caveats though: fading candle-body conviction and sellers slightly ahead.
This week's summary
Ferrari stock remains squeezed into a very tight band between its 50-week average and the daily pivot average, in the 329-331 area, with the weekly candle showing early signs of fatigue and sellers slightly ahead. The buy signal is still just in its 5th week, with 2 of the 3 targets from our most advanced model already hit and the trade up 7.17%. This week's technical analysis also flags the earnings date, due in about 2 weeks, as one to watch.
IQS Phase
54
ordinary
Signal Strength
44
medium · weak
Sizing
REDUCED
Ranking
#38 / 61
EU-UK stocks in progress
Trade P&L %
+7.17%
from signal to today
restricted Platinum content